About Us

FAQ

WHAT IS BITCOIN DIAMOND?

Bitcoin Diamond (BCD) is a fork of Bitcoin that occurs at the predetermined height of block 495866 and therewith a new chain will be generated as the BCD. Bitcoin Diamond miners will begin creating blocks with a new proof-of-work algorithm, and will consecutively develop and improve the transaction speed based on original features of BTC. This will cause a bifurcation of the Bitcoin blockchain. The original Bitcoin blockchain will continue on unaltered, but a new branch of the blockchain will split off from the original chain. It shares the same transaction history with Bitcoin until it starts branching and coming into a unique block from which it diverges. As a result of this process, a new cryptocurrency was created which we call ‘Bitcoin Diamond’.

WHAT IS THE TOTAL AMOUNT FOR BITCOIN DIAMOND (BCD)?

The total amount of BCD is 210 million. There is no more increase.170 million BCD, 1BTC : 10BCD will be presented to the Bitcoin holders for the long-term Bitcoin ECOSYSTEM support. The rest 40 million will be automatically transferred into the community rewards pool as tributes and mining.

WHAT PROBLEMS DOES BITCOIN DIAMOND ATTEMPT TO SOLVE?

After nine years of rapid development of Bitcoin, high transactions fees and Bitcoin no longer meets the demands from rising numbers of clients. And various kinds of problems have arisen, which mainly consist of the following aspects: 1. Slow transaction confirmations. 2. High threshold for new members.

IS BITCOIN DIAMOND A COMPETITOR OF BITCOIN?

No, Bitcoin Diamond is fork of the Bitcoin blockchain with upgraded technology while preserving the original features of Bitcoin. Adding on new techniques - Lightning network to faster transaction speed, more efficiently applied in the field of daily payments. Besides, it raises the storage size and the block-out speed of each block to an optimum value, to follow segwit and increase the usage of block unit storage trading of the Bitcoin Diamond and minimize the production of isolated blocks.

HOW DOES BCD PREVENT REPLAY ATTACKS?

The so-called replay attack refers to the fact that if a transaction is valid in BTC, then the bifurcation of BTC will also take effect, because most of their algorithms are the same. Means that if someone on the BTC launches a deal in the chain and sends the signed deal to another block chain, he will get free BTC that shares the same ratio in that block chain. In order to prevent a replay attack, a slight change has been made on trading format between BTC and BCD, to prevent the replay trading, BCD will not accept BTC deal which truly makes it independent from the BTC.

WHY DOES BCD ADDING LIGHTNING NETWORK?

The Lightning Network is the second layer payment protocol that works on the blockchain. It is designed to realize real-time transactions between the two parties. The main idea of the Lightning Network is to place a large number of transactions outside the blockchain. The Lightning Network refines the off-chain transaction channels through smart contracts. Throughout the transaction, smart contracts play an important role as the intermediary, and the blockchain ensures that the final transaction results are confirmed.

HOW CAN I GET BITCOIN DIAMOND?

1.Anyone who held Bitcoin at the time Bitcoin Diamond was created, on 11/24/2017 at Block Height 495866, became owners of Bitcoin Diamond which is 1BTC : 10BCD. 2.Mining. 3.Exchange at any other secondary markets. 4.Contributors in the ecological construction of BCD will receive a certain BCD as a reward.

WHAT WALLET SHOULD I KEEP BTC TO GET BCD?

Any secured Bitcoin wallets can store your BCD before they reach the predetermined height as of block 495866. If your Bitcoin is stored by a third party, such as an exchange, then you must inquire with them about your Bitcoin Diamond. Verified wallets that support BTC and BCD side-by-side will be listed on the Bitcoin Diamond home page. We will publish guides for retrieving BCD from the most popular wallets.

IF I HAVE BTC IN LONG-TERM COLD STORAGE, DO I NEED TO MOVE IT SOMEWHERE ELSE TO GET FREE BCD?

No. If you have BTC in a paper wallet, hardware wallet, multi-signature address, or any other forms of secure private key storage, you will be able to claim your corresponding BCD at any time. BCD will be distributed when you move. You can search and find your BCD from your wallet.

HOW CAN I GET BITCOIN DIAMOND AFTER THE FORK?

Once the Bitcoin blockchain reaches a predetermined height of 495866 Bitcoin holders can get BCD free. After that time, you need to acquire BCD at any exchanges like other crypto-currencies, mining it as Bitcoin, or trading your goods and services for benefits.

IF I HAVE BTC ON AN EXCHANGE AT THE TIME OF THE FORK, WILL I GET MY FREE BCD?

Cryptocurrency exchanges are custodial businesses, which means they control your private keys. When the Bitcoin Diamond fork occurs at predetermined height 495866, any exchange that is holding BTC on your behalf will also receive the corresponding BCD. While they should credit your account with the equal amount of BCD, there is no legal authority that can force them to do so. The Bitcoin Diamond home page will display the names and logos of exchanges that have promised to credit their users with BCD at 1:10. If your exchange is not shown, please consider transferring your BTC to a supporting exchange or withdraw to a personal wallet where you control the private keys.

HOW CAN I SELL MY BITCOIN DIAMOND (BCD)?

You can sell BCD at any of the exchanges listed on our home page. Or you can trade with a trusted broker.

SHOULD I BUY BITCOIN DIAMOND?

As the developers of the project, we will not predict price or provide any investment advice. We create BCD as a free dividend for BTC holders. Anyone who holds Bitcoin at the time when Bitcoin Diamond was created became owners of Bitcoin Diamond. You can receive the full benefits of this project without any additional risk simply by holding Bitcoin, the best form of money the world has ever seen.

HOW DO I MINE BITCOIN DIAMOND?

You can mine BCD using the full node client or you can mine with a pool. Some public mining pools that have worked with us are listed on our home page. We invite you to join our Facebook, Twitter, Slack, Telegram or Reddit for technical help and advice about mining BCD.

WHAT IS BIP44 PROTOCOL?

BIP44 is a rule which can make HD wallet very powerful, and the Bitcoin Diamond token follows this rule. With this rule, clients only need to save a master private key, which can generate multiple sub-private keys and sub-addresses. Clients can easily manage all the balances of the addresses under this master private key, that can also help reducing the possibility of the master private key exposure, which ensures the safety of funds.

THE ADVANTAGES TO FOLLOW SEGWIT?

Block information are divided into trading information and witness information. Trading information means someone transfer amount at a specific time. Witness information means at a specific node and time to verify the reliability of trading information. Bitcoin put two information into the same block directly, so BTC cannot bear more trading information.By using segwit, block only records trading information and each block will record more trading. Bitcoin Diamond will increase the unit block to bear more trading, in order to optimize the storage of BCD network.

BITCOIN DIAMOND FOUNDATION?

START UP & OPERATION EXPENSES 2%

1. Early Development 0.6%

A. Mainnet & Wallet development

D. System & Security Maintenance

B. Mining & Pools program development

E. Early Developers Rewards

C. Nodes & Severs Construction

F. domain

2. Global Market Expanding 1%

A. Meetups and developer conferences

D. Social media& Press release

B. Global advisory recruitment

E. Advertising

C. Exchanges Joint events

3. Community construction 0.2%

Community maintenance work will be performed by full-time employees, and promotional activities to implement the Global Community Rewards Program regularly

4. Legal & Compliance 0.2%

This funds will be reserved for future global compliance issues

DEVELOPMENT & ECOLOGICAL 4.6% （TIME-LOCKED FUNDS; 20% RELEASED PER YEAR）

1. Development 1%

A. Core Develop Team

a).Lightning Network

b).Basic of Ecological Construction

c).New tech upgrade

B. Developer Reward Plan

Developers only need to provide open source code meets certain requirements to participate in the BCD and get reward BCD.

2. Ecological 3.6%

A. Payable Ecological

a).Financial

Programs to finance pilot into the countries but not limited to the field of debit cards, ATM machines and other payment.

b).Cross-Border e-commerce

Cross-border e-commerce cooperation, BCD as a payment to solve the problem of slow cross-border payment and some people cannot use foreign currency payments